In a significant escalation of trade tensions, President Donald Trump announced a new 10% global tariff on imports, effective immediately. This decision follows a U.S. Supreme Court ruling that invalidated many of his previous tariffs imposed under emergency powers. The new tariff, which is set to last for an initial 150 days, has raised concerns among U.S. trading partners in Asia, with analysts warning of potential confusion for businesses and investors. As Trump prepares for a summit with China's President Xi Jinping, he acknowledged that while the meeting is intended to be a grand display, tensions over trade and defense could dampen the atmosphere. The Supreme Court's ruling has dramatically reduced the average U.S. tariff from 15.4% to 8.3%, with countries like China, Brazil, and India seeing substantial cuts (New York Times, February 22, 2026).